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Business Words You Need to Know Flashcards | StudBud
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Business Words You Need to Know
Business Words You Need to Know
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Basic Business Terms
Flashcards
12 cards
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Answers
1
In the business world, what does "asset" mean?
one business sells goods or services to another business.
a system that provides information about finances.
the value of everything a company owns and uses.
the degrading value of an asset over time.
2
What is net worth?
revenues minus expenses.
a one-time expense that doesn’t vary with business volume.
the total value of a business.
the value of what a business owes to someone else.
3
What is an expense?
money spent on supplies, equipment or other investments.
a category of like businesses.
the degrading value of an asset over time.
the degrading value of an asset over time.
4
What is an entrepreneur?
someone who starts a new business.
a potential customer.
work done for pay that benefits another.
someone who sells and distributes a product or service.
5
What is a supplier?
a potential customer.
an organization that provides supplies to a business.
the process of promoting and selling a product or service.
something produced or manufactured to be sold; a good.
6
When referring to a business, what is service?
work done for pay that benefits another.
a potential customer.
the value of everything a company owns and uses
profit divided by revenue displayed as a percentage.
7
What is revenue?
the value of what a business owes to someone else.
the entire amount of income before expenses are subtracted.
the amount of time it takes to recover from investments
money spent on supplies, equipment or other investments.
8
How does marketing help a business?
It promotes, sells and distributes a product or service.
It degrades the value of an asset over time.
It spends on supplies, equipment or other investments.
It sells goods or services directly to the end user.
9
What does the business term " net worth" mean?
revenues minus expenses.
a category of like businesses.
the total value of a business.
a formal agreement to do work for pay.
10
What is net income or net profit?
the value of what a business owes to someone else.
the total value of a business.
the total amount of income minus expenses.
a one-time expense that doesn’t vary with business volume.
11
What is a target market?
an organization that provides supplies to a business.
a group of customers at which a company aims its services.
the process of promoting & distributing a product or service
something produced or manufactured to be sold; a good.
12
What are liabilities?
something produced or manufactured to be sold; a good.
the value of what a business owes to someone else.
the management and allocation of money and other assets.
work done for pay that benefits another.
